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Weekly USD majors / commodities technical trading booths
US-Dollar / SPX at Resistance in Weekly Open – Bitcoin, Gold Search Support
The US Dollar Index (DXY) is trading just below the resistance as the year closes on the highest day and we are looking for a possible price bend at these levels earlier in the week. Simultaneously, the SPX rebounded into former tilt support and turned resistance with a break / close above 4487 required to mark the resumption of the broader uptrend. A look at US Treasury bond yields reveals a major breakout where the US10Y encounters confluent uptrend resistance – a break / close above 1.53 is required to break the March downtrend. At the same time, pullbacks in Bitcoin and Gold are looking for meaningful support and levels will be clear by the end of September. In this webinar, we take a detailed look at the major technical trading levels for US dollar index,SPX500, EUR USD, GBP / USD,USD / JPY, AUD / USD, gold (XAU / USD), Silver (XAG / USD), crude oil (WTI), Bitcoin (BTC / USD), USD / CAD & USD / ZAR.
For a full breakdown of Michael’s trading strategy, see his Foundations of Technical Analysis series for building a trading strategy
Economic calendar
Economic calendar – current economic development and impending event risk
—Written by Michael Boutros, Currency Strategist at DailyFX
Follow Michael on Twitter @MBForex
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